‘Mansion Tax’ could cost some London flat owners over £700,000 each year!

mansion tax affects London flat owners

This scheme was initially raised in 2009 by the Liberal Democrats when it was estimated that it could raise £1.7 billion a year by introducing an annual 1% tax on the value of residential properties that are in excess of £2million. Recently the Labour Party has stated that they intend to implement a Mansion Tax, [...]

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Will it really be any harder to get a mortgage following the Mortgage Market Review (MMR) changes?

MMR Mortgage Market Review

There has been lots of speculation in the media recently surrounding the MMR. It is true that the changes which have taken effect over the weekend will mean that a more in depth discussion about income and outgoings will be required prior to any mortgage recommendation being made. However, this is purely to assess whether [...]

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New mortgage regulations have come into force and lenders do still want to lend

The new Mortgage Market Review for 2014

The new Mortgage Market Review (MMR) regulatory changes came into effect over the weekend. Many lenders and mortgage brokers had already switched before the weekend and are successfully operating to the new regulations. From now on all mortgage brokers and providers have to operate under the new guide lines. Although these changes are more stringent, [...]

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What the Mortgage Market Review will mean for people with interest only mortgages on their home

the mortgage market review-and interest only mortgages

The mortgage market review began in 2009 after we experienced the financial difficulties the mortgage market had caused for many people. The regulations previously in place had not proved effective in limiting high risk lending. On 26th April this year, changes will be coming into effect which will ensure mortgages continue to be available to [...]

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